FirstEnergy Corp. - FE STOCK NEWS

FirstEnergy Pennsylvania (FE PA) has secured approval from the Pennsylvania Public Utility Commission for phase three of its Long-Term Infrastructure Improvement Plans (LTIIP III). The plan involves a $1.42 billion capital investment over the next five years to enhance service reliability for over two million Pennsylvania customers.

The initiative builds on more than $1 billion invested during 2016-2024, which has already reduced customer service interruptions by 14% since 2019. LTIIP III will focus on grid modernization and system resiliency, including installing protective devices, converting power lines, updating underground networks, and replacing aging equipment. The investment will be distributed across service areas: Penelec ($538M), Met-Ed ($382M), West Penn Power ($368M), and Penn Power ($133M).

The FirstEnergy Foundation has awarded nearly $20,000 in 'Gifts of the Season' grants to three New Jersey nonprofits serving JCP&L's service area. The recipients include Pearls of Wisdom Foundation ($6,650), Next Steps Adult Day Program ($6,650), and Project Refit ($6,650). These organizations focus on youth development, special needs adults support, and mental health services for military members and first responders, respectively.

The initiative, established in 2016, has awarded approximately $1.1 million to nonprofits that promote diversity, equity, and inclusion, including nearly $100,000 to New Jersey organizations. To qualify, recipients must be first-time grantees and meet specific diversity criteria in their business ownership or operational focus.

The FirstEnergy Foundation, associated with FirstEnergy Corp. (NYSE: FE), has donated $40,000 to two nonprofit organizations as part of its annual holiday 'Gifts of the Season' campaign. Operation Second Chance and Stars That Shine each received surprise $20,000 donations to support their community work in Maryland and West Virginia.

Operation Second Chance, based in Montgomery County, Maryland, supports wounded combat veterans and their families through various programs, including retreats at Heroes Ridge. Stars That Shine, serving Eastern Panhandle of West Virginia, focuses on mentoring girls and young women through educational and empowerment programs.

Since its 2016 inception, the 'Gifts of the Season' initiative has awarded approximately $1.1 million to nonprofits that align with FirstEnergy's core value of diversity, equity and inclusion.

FirstEnergy Foundation, through its Mon Power subsidiary, has awarded surprise donations of $6,650 each to three West Virginia nonprofit organizations as part of its annual 'Gifts of the Season' campaign. The recipients are Libera Inc., the West Virginia Statewide Independent Living Council (WVSILC), and Centers Against Violence. The total donation of nearly $20,000 will support various community initiatives including a proposed transitional housing facility, a wellness center for people with disabilities, and services for victims of domestic violence. This initiative, created in 2016, has awarded approximately $1.1 million to nonprofits that align with FirstEnergy's core values of diversity, equity and inclusion.

The FirstEnergy Foundation has awarded surprise "Gifts of the Season" totaling $70,000 to six Pennsylvania nonprofits serving communities in FirstEnergy Pennsylvania's service area. The recipients include Barrio Alegria ($10,000), Glenn Hope Care Farm ($10,000), Vallonia Industries ($20,000), The Blind Association of Butler and Armstrong ($10,000), Achieva Support ($10,000), and Centre LGBT+ ($10,000).

The initiative, created in 2016, supports organizations aligned with FirstEnergy's core value of diversity, equity, and inclusion. Since its inception, the campaign has awarded over $1.1 million to nonprofits working to strengthen communities through a diverse lens. Recipients must be first-time FirstEnergy Foundation grant recipients and either be or serve diverse categories including veteran-owned, disability-owned, minority-owned, LGBTQ-owned, or woman-owned enterprises.

FirstEnergy Corp. (NYSE: FE) has announced that President and CEO Brian X. Tierney will assume the additional role of Chair of the Board, effective January 1, 2025. Current Chair John W. Somerhalder II will remain as a director, while Lisa Winston Hicks continues as Lead Independent Director. The Board unanimously elected Tierney, who has served as President and CEO since June 1, 2023, citing the company's progress in financial, operational, and cultural transformation.

The Board believes combining the CEO and Chair roles will strengthen the company's position as it implements its Energize365 capital investment program to deliver more secure and reliable energy. The company aims to create shareholder value through financial commitments, continuous improvement, and investment across regulated electric companies.

FirstEnergy Corp. (NYSE: FE) has announced its Board of Directors' declaration of a quarterly dividend of $0.425 per share on outstanding common stock. The dividend remains unchanged and will be payable on March 1, 2025, to shareholders of record as of February 7, 2025. FirstEnergy operates one of the nation's largest investor-owned electric systems, serving over six million customers across six states through its electric distribution companies. The company's transmission subsidiaries manage approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.

FirstEnergy (NYSE: FE) has issued safety guidelines for holiday gifts, particularly focusing on drone operation during National Safe Toys and Gifts Month. The company emphasizes the importance of proper drone usage, highlighting risks associated with flying near power lines and electrical equipment. FirstEnergy has developed 'Drone Safety Zone,' a free online game teaching drone safety rules.

Key safety recommendations include maintaining a 200-foot distance from power lines, flying below 400 feet altitude, and proper FAA registration. The company also provides general electrical safety tips for holiday gifts, including proper battery handling, cord safety, and outlet management.

The FirstEnergy Foundation has awarded $60,000 in 'Gifts of the Season' grants to four Ohio nonprofits serving vulnerable populations. The recipients include Project Woman ($10,000), D.R. Services, Inc. ($10,000), Catholic Charities ($20,000), and Sofia Quintero Arts & Cultural Center ($20,000). These organizations were selected for their work in supporting domestic violence survivors, people with disabilities, Hispanic communities, and cultural programs respectively.

The initiative, established in 2016, has distributed approximately $1.1 million to nonprofits that align with FirstEnergy's diversity, equity, and inclusion values. To qualify, organizations must be first-time grant recipients and either be or serve diverse categories including veteran-owned, disability-owned, minority-owned, LGBTQ-owned, or woman-owned enterprises.